News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link:…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD
  • The US Dollar is pushing up to a fresh September high after the release of University of Michigan Consumer Sentiment data. Get your $USD market update from @JStanleyFX here:
  • I have this $SPX chart taking over one of my whole screens, and I just keep staring at that 50-day moving average...
  • RT @TheStalwart: Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability…
  • Selling pressure strengthening in Wall Street two hours before the close. S&P 500 down roughly 1% intraday, the largest decline since August 18th #trading $SPX $SPY
  • One of the strongest correlation with Bitcoin at the moment is the US 10-Year Treasury yield
Bitcoin (BTC) Slump Continues on US Justice Department Probe Talk

Bitcoin (BTC) Slump Continues on US Justice Department Probe Talk

Nick Cawley, Strategist

Bitcoin Price and Talking Points

- A report that the US Justice Department has opened an investigation into cryptocurrency price manipulation is weighing heavily on Bitcoin.

- Fresh 2018 lows are on the cards if the current trading range breaks.

A report by Bloomberg that the US Justice Department is investigating illegal practices in the cryptocurrency market is weighing on an already weak crypto-complex. The story, citing four people familiar with the matter, states that officials are looking at potential price manipulation of Bitcoin and other cryptocurrencies along with the Commodity Futures Trading Commission (CFTC).

This report comes hot on the heels of a statement by the chairman of the US Securities and Exchange Commission (SEC) applauding “fellow regulators in the United States and Canada who are coordinating and participating in efforts to police fraud in the Initial Coin Offering (ICO) markets”. Chairman Jay Clayton added that “The enforcement actions being announced by NASAA should be a strong warning to would-be fraudsters in this space that many sets of eyes are watching, and that regulators are coordinating on an international level to take strong actions to deter and stop fraud”.

A combination of increased regulatory oversight and a weak technical backdrop has forced cryptocurrency prices sharply lower across the board in the past couple of days, taking out noted levels of support. Market heavyweight Bitcoin (BTC) currently trades around $7,400 and is nearing the bottom of its recent trading range at $6,438. Below this lies the 2018 low – made on February 6 - of $5932, a level last seen in mid-November 2017.

Bitcoin (BTC) Price Chart Daily Time Frame (September 17, 2017 – May 24, 2018)

Bitcoin (BTC) Slump Continues on US Justice Department Probe Talk

We discussed the weak technical set-up of the cryptocurrency market at our Weekly Cryptocurrency Webinar yesterday.

And where Bitcoin leads, other cryptocurrencies follow with Ether (ETH) falling to a one-month low of $570, Bitcoin Cash (BCH) dropping below $1,000 - also a one-month low - while Ripple (XRP) recently touched a six-week low of $0.575.

IG Client Sentiment continues to show that retail traders are still heavily long of cryptocurrencies, a bearish contrarian indicator, although daily and weekly positional changes can change market sentiment.

What’s your opinion on Bitcoin – bullish or bearish? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at

--- Written by Nick Cawley, Analyst.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.